H.R. 6204 (112th): Investment Adviser Examination Improvement Act of 2012

Introduced:
Jul 25, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Maxine Waters
Representative for California's 35th congressional district
Party
Democrat
Text
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Last Updated
Jul 25, 2012
Length
6 pages
Related Bills
H.R. 1627 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Apr 18, 2013

 
Status

This bill was introduced on July 25, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 25, 2012
Referred to Committee Jul 25, 2012
 
Full Title

To amend the Investment Advisers Act of 1940 to require certain investment advisers to pay fees to help cover the costs of inspecting and examining investment advisers under such Act.

Summary

No summaries available.

Cosponsors
2 cosponsors (2D) (show)
Committees

House Financial Services

Capital Markets and Government Sponsored Enterprises

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


7/25/2012--Introduced.
Investment Adviser Examination Improvement Act of 2012 - Declares the sense of Congress that the Securities and Exchange Commission (SEC) should increase the number and frequency of examinations of investment advisers.
Amends the Investment Advisers Act of 1940 to direct the SEC to collect an annual fee from investment advisers subject to SEC inspection or examination to defray the cost of such inspections and examinations. Exempts certain state-regulated investment advisers from the requirement to pay an annual fee.
Prescribes a fee calculation formula. Requires the SEC to make the formula publicly available on its website along with the factors used to reach the fee determination.
Requires the Comptroller General to audit biennially the use of such fees, SEC reviews of the fee formula, and any adjustments to it.
Makes such fees available to the SEC, without further appropriation or fiscal year limitation, to pay costs associated with inspecting and examining investment advisers.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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